Last week, the currency had gained 1.1 per cent snapping a nine-week losing streak, but a surprise drop in industrial output, a fall in exports and higher retail inflation, depressed sentiment again. The data was released after close of trading on Friday and was reflected as markets opened for trade this morning.

Last week, the currency had gained 1.1 per cent snapping a nine-week losing streak, but a surprise drop in industrial output, a fall in exports and higher retail inflation, depressed sentiment again. The data was released after close of trading on Friday and was reflected as markets opened for trade this morning.

With elections round the corner, the Manmohan Singh government has been slammed by political rivals for failing to check the slide of the rupee. The BJP's Narendra Modi said at a rally yesterday, ""India's PM is an economist, yet the country's economy is in such a bad condition. Very soon, dollar rate will touch the age of the Finance Minister." Mr Chidambaram is 68.

With elections round the corner, the Manmohan Singh government has been slammed by political rivals for failing to check the slide of the rupee. The BJP's Narendra Modi said at a rally yesterday, ""India's PM is an economist, yet the country's economy is in such a bad condition. Very soon, dollar rate will touch the age of the Finance Minister." Mr Chidambaram is 68. (PTI)